Personal financial planning portfolio Essay
In today walks tomorrow. What we do today becomes our future success or failure. I like to plan my future personal financial portfolio in order to be able to achieve what I have aimed to accomplish in my young age. Peace, harmony, money, success, social status and happiness mean everything to me. Meticulous planning and disciplined implementation of actions can achieve any mission in life I am convinced! My Vision. To be a complete man, family man, is my ultimate vision for myself. A happy man is a successful man. A man who can live up to his family can always live up to society and to a nation.
A responsible individual not only contributes to his own welfare, but also thinks about the benefits of his family, extends his generosity towards his surroundings, and finally dedicates himself to a social, political, financial, environmental and philanthropic cause as a global citizen of the modern world. Such a man inculcates trust among his near and dear. He nurtures good values in his peers and in the next generation. A family man takes responsibility of his actions. He optimises his resources of time, money and emotions to stabilize the life of all.
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I love to govern, make decisions, PFPP use my authority to do the right things rather than work for a safe and secured income from a high paying job in the near future. . Despite the challenges I may have to face, in spite of the low profile I may have to live and though I may not earn billions of dollars, I still prefer to be a self employed small or medium businessman in the future.
My formal education in Business Administration gives me enough leverage to start an enterprise of my own. My academic qualifications in Business Administration equip me to start a business in the financial sector. Since Insurance and Risk Management are my subjects of graduation I would like to delve into a services industry in the financial sector of risk management and insurance products already in the market. New instruments of innovative creative features suitable to my own country and particular set up of people and geography later.
Financial consultancy, risk management consultancy, services related to them, franchisee of popular products in the market and other allied financial tools will be my main business and industry after a few years of experience under a similar Multi National Company. I plan to work in a high turnover insurance company for 5 years after my graduation. Then I would like to plunge out to be on my own. The pre requisites I have to meet before I can have my own small business is- saved up capital, raise finance for recurring expenses and working capital for my enterprise.
I will be on the lookout for top brass human resource for my business and I will start to cater for infrastructure like real estate, office, equipment and basic needs to run my unit in the most efficient but thrifty budget for the initial 5 years of its inception. Public relations and goodwill are an intangible asset I already have and when my enterprise is reaping profits of more than 50 % of my PFPP Total investments, I will begin to share a total 5 % of it every year for the welfare of society. Education, health and basic human needs will be my focus in my neighbourhood.
I would like to fund schooling of poor children, give food and shelter to the underprivileged just like a personal social security system every year. I believe in giving as much as in taking from society in order to achieve balanced growth and development. My Strategy. I am a student at present. Most of my time is devoted to studies. I can spare only 4-5 hours for work. This work is barely enough to cater to my lodging and I have to take special classes – hobby classes for additional income for my boarding expense.
It is a pleasure to teach what I know and in return I also make a lot of good contacts which will be helpful for my business career later. I will have graduated in just one more month and hence my earnings can be doubled by working multiple hours. I envisage earning between 2000 to 2700 usd per month in Riyadh from the year 2009 to 2013,. An approximate earning of 24000 usd will be my yearly income. With approx. net earning of 120000 usd in the next 5 years.. I plan to save at least 30 % per year for my business capital.
I wish to invest at least 10% of my annual earnings in high risk – high profit financial products like Shares, debentures, bonds and equities for fast growth. 10 % per annum can take care of unforeseen contingencies while the remaining chunk of 50 % per year will be used for my living and other needs. I may make an additional income from my present activities but I would like to keep them in high interest fixed deposit accounts. This way I will have raised a capital of 36000 + usd as PFPP Initial business investment while the remaining 60 % term loan = 64000 usd can be raised through loans to kick start my enterprise with 100000 usd.
My objectives are to put in 40 % for a term loan. Raise the 60% for my project from a financial company as business loan. Rent out a place from the same funds. Form a chain of supply, market, sale of insurance products through public relations and good will relations with clients from all strata of society. Enforce austerity measures in administration and image building and branding of my services. Buy franchisees of popular brands and introduce my own innovative tailor made insurance products into the markets with the help of the global brands to the same market.
Personal interaction, high credibility and integrity will uphold all my business policies. I have experienced that honoured promises and commitments can magnify businesses in any sector. The fear of losing money and the distrust of promises creates a rift in demand and actual sale of these financial products. It is easier to flourish in the money market. Once business reputation is established. Competition has its own dynamic challenges in the fast paced smart and swift financial market today. It is risky to manage risk management services but I am confident I will stand up to it.
My budget plan. I will strictly adhere to my budget and planning at all costs. I would like to save up, invest, and multiply money for capital investment. Take a leased place for office. Buy basic infrastructure and equipment for administration and services. Employ like minded highly qualified, honest and sincere young men and women. Pay them well and give them options of becoming share holders of the same company and PFPP Invest their Salaries for expansion and growth of my small business in the financial sector. Budget Plan.
My tangible assets include my savings, car, laptop, printer, and my additional income. My intangible assets are my degree, friends, relatives and acquaintances. My acquired skills save me service expenses in designing my company logo, cards, office stationer and interiors of my office. My excellent communication skills will help my business . My friendly demeanour will give me access to clients and my honest dealings will give me recommendations for escalation in growth. I do not plan to invest more money in the first 5 years but I wish to establish my reputation in the fiscal market.
I propose to expand my services and products to international markets then.. To have 5 offices with 25 top people and 100 top brand insurance and risk management products is my target in the next 5 years. My aim is to achieve a turnover of more than 100000 usd. in the first one year. With an initial capital investment of 36000 usd , term loan of 64000 usd, movable assets of 5000 usd and intangible assets of more than 25000 usd I would start a small business with a total of 130000 usd in the year 2013.
This plan is based on a stringent budget but it takes care of unforeseen financial plummets and does not count on high net profits in the first 3 years. I am determined to achieve my aims through this very strategic PFPP through impeccable honesty and strict discipline of the mind and body of a complete family man. My vision, my mission, my strategy and my budget are aimed at none other but the – family man and management and planning of resources at my disposal.